The Golden Rules of accountancy are basic principles to maintain accurate financial records.

• Debit the receiver, credit the giver

• Debit what comes in, credit what goes out

• Debit expenses and losses, cred...read more

Golden rules of accounting:

1. Debit the receiver and credit the giver.

2. Debit what comes in and credit what goes out.

3. Debit expenses and losses, credit income and gains.

Golden rules

1. Personal account: Debit the receive, credit the giver

2. Financial account: Debit what comes in, credit what goes out

3. Nominal account: Debit all expenses and losses ,credit all income and gain...read more